Homework Answers
Question 1
US have a comparative advantage producing engines over Canada since from 1 unit of labor and capital US can produce 20 engines whereas Canada can produce only 15 engines. Thus, US has comparative advantage producing engines
Question 2
With one unit of labor and capital Canada can produce 15 engines or 34 tons of chemicals, thus if the same is utilised to produce 1engines instead of chemicals there is an opportunity cost of (34/15) = 2.26666667 i.e. 2.67 tons of chemicals
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Question 1 (1 point) Saved The U.S. and Canada both produce aircraft engines and tons of...
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for...
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 22 engines or 38 tons of chemicals and Canada can produce either 14 engines or 32 tons of chemicals. What is the opportunity cost of producing one ton of chemicals (in terms of engines) for the U.S.? Provide your answer as...
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for...
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 20 engines or 38 tons of chemicals and Canada can produce either 15 engines or 35 tons of chemicals. Which country has a comparative advantage producing engines?
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for...
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 22 engines or 36 tons of chemicals and Canada can produce either 14 engines or 35 tons of chemicals. What is the opportunity cost of producing one ton of chemicals (in terms of engines) for Canada? Provide your answer as a...
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for...
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 20 engines or 36 tons of chemicals and Canada can produce either 15 engines or 35 tons of chemicals. What is the opportunity cost of producing one engine (in terms of tons of chemicals) for Canada? Provide your answer as a...
e U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the...
e U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 20 vehicles or 47 tons of plastic and Mexico can produce either 10 vehicles or 16 tons of plastic. What is the opportunity cost of producing one vehicle (in terms of tons of plastic) for Mexico? Provide your answer as a number...
er/attempt/quiz start frame auto.d2lrou-7443178kisprv &drc-08qi-74853558cfql-08idnb 0 omparative Advantage amkumar Patel: Attempt 1 Question 8 (1 point)...
er/attempt/quiz start frame auto.d2lrou-7443178kisprv &drc-08qi-74853558cfql-08idnb 0 omparative Advantage amkumar Patel: Attempt 1 Question 8 (1 point) Suppose that Spain and France both produce ships and grapes, which are sold for the same price in both countries. The table below shows the combinations of the two goods that each country can produce in one year using the same amounts of capital and labor. What is the opportunity cost of producing one ton of grapes (in terms of ships) for France? Provide...
The U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the...
The U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 20 vehicles or 48 tons of plastic and Mexico can produce either 10 vehicles or 16 tons of plastic. What is the opportunity cost of producing one vehicle (in terms of tons of plastic) for the U.S.? Provide your answer as a...
The U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the...
The U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 20 vehicles or 40 tons of plastic and Mexico can produce either 10 vehicles or 15 tons of plastic. Which country has a comparative advantage producing plastic?
The U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the...
The U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 20 vehicles or 40 tons of plastic and Mexico can produce either 10 vehicles or 15 tons of plastic. Which country has an absolute advantage producing plastic?
The U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the...
The U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 20 vehicles or 48 tons of plastic and Mexico can produce either 10 vehicles or 18 tons of plastic. What is the opportunity cost of producing one vehicle (in terms of tons of plastic) for Mexico? Provide your answer as a number...
The U.S. and Canada both produce aircraft engines and tons of chemicals, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 22 engines or 38 tons of chemicals and Canada can produce either 14 engines or 32 tons of chemicals. What is the opportunity cost of producing one ton of chemicals (in terms of engines) for the U.S.? Provide your answer as...
e U.S. and Mexico both produce vehicles and tons of plastic, which are sold for the same price in both countries. Suppose that with one unit of labor and one unit of capital, the U.S. can produce either 20 vehicles or 47 tons of plastic and Mexico can produce either 10 vehicles or 16 tons of plastic. What is the opportunity cost of producing one vehicle (in terms of tons of plastic) for Mexico? Provide your answer as a number...
er/attempt/quiz start frame auto.d2lrou-7443178kisprv &drc-08qi-74853558cfql-08idnb 0 omparative Advantage amkumar Patel: Attempt 1 Question 8 (1 point) Suppose that Spain and France both produce ships and grapes, which are sold for the same price in both countries. The table below shows the combinations of the two goods that each country can produce in one year using the same amounts of capital and labor. What is the opportunity cost of producing one ton of grapes (in terms of ships) for France? Provide...
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